Financial Performance - The company recorded an unaudited net loss of approximately RMB 4.45 million for the six months ended June 30, 2025, compared to a net loss of approximately RMB 5.51 million for the same period in 2024, representing a decrease in loss of about 19.2%[8] - Total unaudited revenue for the six months ended June 30, 2025, was approximately RMB 5.59 million, accounting for 65% of the total unaudited revenue of approximately RMB 8.66 million for the same period in 2024[8] - Total revenue for the six months ended June 30, 2025, was approximately RMB 5.59 million, representing a decrease of about 65% compared to the same period in 2024[53] - The company's total revenue for the first half of 2025 was RMB 5,585,018.75, a decrease of 35.5% compared to RMB 8,659,011.97 in the same period of 2024[33] - The gross profit for the six months ended June 30, 2025, was approximately RMB 2.10 million, with a gross margin of about 38%, compared to 40% in the same period of 2024[54] - Basic and diluted earnings per share for the first half of 2025 were both (RMB 0.00231), a decrease from (RMB 0.00291) in the first half of 2024, reflecting a decline of about 20.7%[13] - Total comprehensive income for the period from January 1 to June 30, 2025, was (RMB 4,449,140.12), compared to (RMB 5,514,962.85) in the same period of 2024, indicating a decrease of approximately 19.4%[13] Assets and Liabilities - The company's total current assets as of June 30, 2025, amounted to RMB 28.57 million, an increase from RMB 26.82 million as of December 31, 2024[7] - The total liabilities of the company as of June 30, 2025, were RMB 99.85 million, compared to RMB 96.76 million as of December 31, 2024, indicating an increase of approximately 3.2%[10] - The company's total assets decreased to RMB 48.64 million as of June 30, 2025, from RMB 49.99 million as of December 31, 2024[10] - The total assets of the company as of June 30, 2025, were 48,643,114.58, a decrease from 49,999,190.96 as of December 31, 2024[47] - Total liabilities increased to 99,851,437.85 as of June 30, 2025, compared to 96,758,374.11 as of December 31, 2024[47] Cash Flow - Cash inflow from operating activities for the first half of 2025 was RMB 7,386,864.36, down from RMB 7,710,743.04 in 2024, representing a decrease of approximately 4.2%[15] - Net cash flow from operating activities for the first half of 2025 was (RMB 1,428,565.94), an improvement compared to (RMB 3,992,620.50) in the same period of 2024, indicating a reduction in losses[15] - Cash inflow from financing activities in the first half of 2025 was RMB 57,985.13, significantly lower than RMB 4,335,800.00 in 2024, showing a decrease of approximately 98.7%[16] - Net cash flow from financing activities for the first half of 2025 was (RMB 73,431.52), compared to a positive cash flow of RMB 2,954,584.50 in the same period of 2024, indicating a shift in financing strategy[16] - The ending cash and cash equivalents balance as of June 30, 2025, was RMB 1,331,293.09, down from RMB 1,185,265.79 at the end of June 2024[16] - The company reported a decrease in cash outflows related to operating activities, which totaled RMB 8,815,430.30 in the first half of 2025, compared to RMB 11,703,363.54 in 2024, reflecting a reduction of approximately 24.9%[15] Expenses - The total operating costs for the six months ended June 30, 2025, were approximately RMB 10.04 million, down from RMB 14.47 million for the same period in 2024, reflecting a decrease of about 30.5%[12] - Research and development expenses for the six months ended June 30, 2025, were approximately RMB 0.85 million, compared to RMB 1.00 million for the same period in 2024, showing a decrease of about 15.0%[12] - Total sales expenses for the first half of 2025 amounted to 1,052,649.29, a decrease of 30.2% compared to 1,509,091.26 in the same period of 2024[35] - Management expenses totaled 4,540,965.48 in the first half of 2025, down 31.7% from 6,625,145.97 in the first half of 2024[36] - Financial expenses decreased to 90,407.85 in the first half of 2025, down 41.4% from 154,367.75 in the same period of 2024[38] - Other income for the first half of 2025 was 704.13, significantly lower than 2,840.85 in the same period of 2024[39] Shareholder Information - Tianan Enterprise holds 328,363,637 domestic shares, representing approximately 26.23% of total issued domestic shares[74] - Chen Jing holds a total of 485,832,335 domestic shares, accounting for about 38.81% of total issued domestic shares[74] - Gao Xiang Investment holds 254,844,804 domestic shares, which is about 20.36% of total issued domestic shares[74] - The total number of domestic shares held by major shareholders indicates a significant concentration of ownership, with the top three shareholders holding over 60% of total domestic shares[74] - The company has seen a transfer of shares among major shareholders, indicating potential strategic realignments[73] - The overall market presence of the company is reinforced by substantial holdings from various investment entities, enhancing its financial stability[74] Corporate Governance - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix C1 for the six months ending June 30, 2025[85] - The company has revised its articles of association to remove the supervisory board and clarify the functions of the audit committee, approved at the shareholders' annual general meeting on June 27, 2025[86] - The company has ensured compliance with applicable laws and regulations in mainland China and Hong Kong, with no significant violations reported as of June 30, 2025[89] - The company has adopted a code of conduct for securities trading by directors and supervisors, effective until June 28, 2025, with no known violations reported[90] - The audit committee, chaired by independent non-executive director Ms. Wang Qian, reviewed the unaudited consolidated results for the six months ended June 30, 2025, confirming compliance with applicable accounting standards[92] - There are no significant lawsuits or arbitrations involving the company as of June 30, 2025, with no known threats to the group[93] Employee Information - Employee costs totaled approximately RMB 2.1 million for the six months ending June 30, 2025, down from RMB 2.38 million in 2024[65] - As of June 30, 2025, the group had 37 full-time employees, a decrease from 39 in 2024[65] Strategic Initiatives - The group aims to diversify its operations and will explore financing options such as issuing new shares and bank loans to support business development[60] - The group is actively promoting its lens WiFi products and exploring new sales models to attract new customer segments[60] - As of June 30, 2025, the group secured new orders from mobile communication operators in provinces such as Heilongjiang and Inner Mongolia, focusing on antenna business[60] Miscellaneous - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2025[5] - The company did not acquire any significant intangible assets during the period, consistent with 2024[29] - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2025[82] - The company has no significant events affecting its operations and financial performance after June 30, 2025, until the interim results announcement date[80]
海天天线(08227) - 2025 - 中期业绩